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Shore Co. provides for doubtful accounts based on 4% of gross accounts receivable, which had a balance of $1,500,00 at the year-end. The following data
Shore Co. provides for doubtful accounts based on 4% of gross accounts receivable, which had a balance of $1,500,00 at the year-end. The following data are available for 2019.
Credit sales during 2019 $4,400,000
Allowance for doubtful accounts 1/1/19 17,000
Collection of accounts written off in prior years 8,000
(customer credit was reestablished)
Customer accounts written off as uncollectible during 2019 30,000
What is the balance of allowance for doubtful account at December 31,2019?
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